Kaito Sees 26% Surge

Kaito Sees 26% Surge Following Upbit Listing

Kaito has experienced a significant price surge of 26%, largely due to its recent listing on the major centralized exchange, Upbit. The listing on Upbit’s KRW, BTC, and USDT markets has contributed to the token’s growing presence on major exchanges, with deposits only available through Base.

Market Performance

As a result of the listing, KAITO is up 25% in the past 24 hours, trading at $1.82 with a 24-hour trading volume of $996 million, representing a 108% increase. This development adds to Kaito’s existing listings on other prominent exchanges, including Binance, Coinbase, Kraken, OKX, Gate.io, Bybit, and MEXC, which all listed KAITO on February 20.

Airdrop Campaign and Token Distribution

Kaito’s airdrop campaign, which started on February 20, has seen the top 12 airdrop claimants receive a combined total of approximately $3.3 million worth of KAITO. However, 10 of these claimants have already sold most of their holdings, with 8 completely exiting their positions shortly after the airdrop. Currently, 15.7% of airdrop claimants are still holding onto their KAITO tokens, while 83.4% have either sold or transferred most of theirs.

Price Analysis and Future Outlook

Following the late February rally that propelled KAITO to its all-time high on February 27, Kaito experienced a sharp correction, retracing much of its gains. By early March, Kaito had dropped to around $1.50, marking a significant pullback from its peak. At present, Kaito is trading slightly below the 21 EMA ($1.86), acting as its resistance level. A breakout above this level could signal a potential reversal, while failure to hold could lead to further declines towards the local support level of $1.50.

However, the recent spike in volume, likely the result of the Upbit listing, indicates strong buying pressure with key resistance lying around the $2.00-$2.10 range. With 10 of the airdrop top claimants having already taken profits, KAITO’s price now stands on a more stable foundation, which could allow it to consolidate at a more sustainable level, especially if traders continue to show interest in the token.

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